4R Systems to Help Kenneth Cole Productions with Global Inventory Management
WAYNE, PA and NEW YORK, June 4, 2002 — 4R Systems, Inc., a leading provider of analytical software that allows retailers and manufacturers to increase the profitability of short lifecycle products by accurately matching supply with demand, announced today that it has been selected by Kenneth Cole Productions, Inc. to help optimize the fashion houses’ global supply chain. Under the agreement, Kenneth Cole will license 4R Systems’ Supply Planning Product Suite to more effectively set and predict stock levels and allocate inventory for each stage of their products’ lifecycle.
"4R’s deep knowledge of retail analytics – coupled with their cutting-edge software suite and retail experience – convinced us that they were the partner of choice to help us improve our merchandise planning process," said Paul Blum, President of Kenneth Cole Productions. "We are confident that this partnership will help us better anticipate and respond to consumer demand, optimize our merchandise buys and provide us with a rapid return on investment."
Kenneth Cole will use 4R’s Supply Planning software to convert weekly POS data on sales and inventory at the SKU level into actionable information that will help the company optimize stock levels at all points in the supply chain, including suppliers, distribution centers and retail locations.
"The ability to offer customers and consumers the right merchandise where and when they want it requires an accurate analysis of sales information and deep understanding of the supply chain parameters and constraints," added Harry Kubetz, Senior Vice President of Operations at Kenneth Cole Productions. "4R has developed a software solution that will enable us to do just that, ultimately helping us make more profitable buying and allocation decisions."
"We are enormously pleased to be partnering with one of fashion’s great brands," said Jeff Singer, 4R’s Chief Executive Officer. "Kenneth Cole is known for innovation and for its understanding of customer needs and wants, and we look forward to working with them. Today’s agreement is also further proof that forward-thinking retailers are seeing how our products can help take some of the mystery out of short lifecycle demand and supply planning."
About Kenneth Cole
Kenneth Cole Productions, Inc. designs, sources, and markets a broad range of footwear, handbags, and accessories under the brand names Kenneth Cole New York, Reaction Kenneth Cole, and Unlisted, a Kenneth Cole Production. The company has also granted a wide variety of third party licenses for the production of men`s and women`s apparel, timepieces, eyewear, and several other accessory categories. The company`s products are distributed through department stores, better specialty stores, and company-owned retail stores as well as direct to consumer catalogs and e-commerce.
About 4R Systems
4R Systems, Inc. is a leading provider of analytical software that allows retailers and manufacturers to increase the profitability of short lifecycle products by accurately matching supply with demand. 4R`s products leverage transactional and point-of-sales (POS) data and turn it into critical decision-making information for forecasting and supply planning. The company was founded by supply chain experts Marshall Fisher of Wharton Business School and Ananth Raman of Harvard Business School whose groundbreaking research on product lifecycles with over 30 world-class retailers pioneered the retail analytics sector.
4R is based in Wayne, Pennsylvania, and has international offices in Boston, Washington, D.C. and Milan. Clients include Ahold, American Pacific, Kenneth Cole, Linens ‘n Things, Nokia and Stride Rite. For more information, please visit www.4rsystems.com or call 1-866-4RSYSTEMS.
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